In addition, hourly employees at Elder-Beerman’s Dayton-area stores and other Bon-Ton stores will receive pay increases this year but they will be delayed until November, company CEO Kathy Bufano said in a letter to company associates dated Monday.
“I assure you that I, and the management team, do not take these decisions lightly,” she said in the letter, a copy of which was obtained by the Journal Sentinel.
The announcement comes a week after Bon-Ton posted a $57 million net loss for 2015.
The company announced last week that its fourth-quarter profit dropped 29.5 percent as mild fall and winter temperatures hampered sales of cold-weather apparel and severance costs cut into earnings.
In January, the company announced it was closings Elder-Beerman store in Lima.
Elder-Beerman consolidated its two existing stores at the Mall at Fairfield Commons in Beavercreek and eliminated the furniture gallery as part of the consolidation in 2014
Bon-Ton operates 267 department stores in 26 states, including three Elder-Beerman locations in the Dayton area.